Bayer to acquire Monsanto in all cash transaction

Monsanto India announced that Bayer and Monsanto signed definitive agreement under which Bayer will acquire Monsanto for USD 128 per share in an all cash transaction.

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Lupin gains after tentative approval from USFDA for Epzicom generic

Nov 23,2016

The announcement was made during market hours today, 23 November 2016.

Meanwhile, the BSE Sensex was up 51.06 points, or 0.20%, to 26,011.84.

On BSE, so far 38,000 shares were traded in the counter, compared with average daily volume of 1.04 lakh shares in the past one quarter. The stock hit a high of Rs 1,447.90 and a low of Rs 1,417.10 so far during the day. The stock hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past 30 days till 22 November 2016, falling 7.59% compared with the 7.87% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 7.08% as against Sensexs 7.48% decline.

The large-cap company has equity capital of Rs 90.25 crore. Face value per share is Rs 2.

Lupin announced that it has received tentative approval from the United States Food and Drug Administration (USFDA) to market a generic version of ViiV Healthcare Companys Epzicom Tablets, 600 mg/300 mg.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, central nervous system (CNS), GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.

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534 Pradhan Mantri Jan Aushadhi Kendras functioning in 26 States/UTs

Nov 23,2016

With a view to achieving the objective of making available quality medicines at affordable prices, the Government has been taking several regulatory and fiscal measures from time to time. In order to provide further relief to the common man in the area of healthcare, a countrywide campaign for ensuring availability of quality generic medicines at affordable prices to all, in the name of n++Pradhan Mantri Jan Aushadhi Yojanan++ (PMJAY) has been started. As on date, there are 534 Pradhan Mantri Jan Aushadhi Kendras (PMJAK) functioning over 26 States/UTs. The PMJAY is being implemented by the Bureau of Pharma PSUs of India (BPPI).

The Medical Council of India has amended the Indian Medical Council (Professional Conduct, Etiquette and Ethics) Regulations, 2002 on 08 October 2016 to provide a new para 1.5 regarding use of generic names of drugs which provides as under:

n++Every physician should prescribe drugs with generic names legibly and preferably in capital letters and he/she shall ensure that there is a rational prescription and use of drugs.n++

As on date, 226 Pradhan Mantri Jan Aushadhi Kendras (PMJAK) have been opened in State run hospitals, Medical Colleges and other Government hospitals.

Indian Medical Association and Indian Medical Council are supporting PMJAY to promote the use of generic medicines. Medical Council of India has amended the code to promote the use of generic medicines.

Meanwhile, the S&P BSE Sensex was up 64.63 points or 0.25% at 26,025.41

Bulk deal boosted volume on the scrip. On BSE, so far 28.70 lakh shares were traded in the counter as against average daily volume of 2.51 lakh shares in the past one quarter. The stock hit a high of Rs 184 and a low of Rs 166.65 so far during the day. The stock had hit a record high of Rs 468.65 on 20 October 2016. The stock had hit a 52-week low of Rs 155 on 24 June 2016. The stock had underperformed the market over the past 30 days till 22 November 2016, sliding 59.85% compared with the 7.87% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 6.28% as against Sensexs 7.48% decline.

The small-cap company has equity capital of Rs 18.90 crore. Face value per share is Rs 10.

The Board of Directors of Western India Cottons at its meeting held on 12 November 2016 has appointed A K Shereif as an Independent Director with effect from 12 November 2016 for a period of five years.

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JK Lakshmi Cement gains on bargain hunting

Nov 23,2016

Meanwhile, the BSE Sensex was up 64.85 points, or 0.25%, to 26,025.63.

On BSE, so far 3,735 shares were traded in the counter, compared with average daily volume of 20,864 shares in the past one quarter. The stock hit a high of Rs 364.30 and a low of Rs 347.50 so far during the day. The stock hit a record high of Rs 513.75 on 6 October 2016. The stock hit a 52-week low of Rs 253 on 12 February 2016. The stock had underperformed the market over the past 30 days till 22 November 2016, falling 31.31% compared with the 7.87% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 23.22% as against Sensexs 7.48% decline.

The mid-cap company has equity capital of Rs 58.84 crore. Face value per share is Rs 5.

Shares of JK Lakshmi Cement fell 22.44% in seven trading sessions to settle at Rs 347.05 yesterday, 22 November 2016, from its close of Rs 447.45 on 10 November 2016.

JK Lakshmi Cement reported net profit of Rs 24.91 crore in Q2 September 2016 as against net loss of Rs 8.38 crore in Q2 September 2015. Net sales rose 1.52% to Rs 655.57 crore in Q2 September 2016 over Q2 September 2015.

JK Lakshmi Cement manufactures cement, which it sells under the brand name JK Lakshmi.

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BGR Energy Systems secures contract valued at Rs 2788.60 crore

Nov 23,2016

BGR Energy Systems announced that the Company has received a Letter of Award from Neyveli Uttar Pradesh Power (NUPPL) for BoP contract for the 3 x 660MW - Super Critical Ghatampur Thermal Power Project, Uttar Pradesh. The total lump sum price of the contract is Rs.2788.60 crore.

Lupin has received tentative approval for its Abacavir Sulfate and Lamivudine Tablets, 600 mg/ 300 mg from United States Food and Drug Administration to market a generic version of Viva Healthcare Companys Epzicom Tablets, 600 mg/ 300 mg.

The announcement was made during market hours today, 23 November 2016.

Meanwhile, the S&P BSE Sensex was down 46.39 points or 0.18% at 25,914.39

On BSE, so far 2.27 lakh shares were traded in the counter as against average daily volume of 2.93 lakh shares in the past one quarter. The stock hit a high of Rs 685 so far during the day. The stock hit a low of Rs 659 in intraday trade so far, which is 52-week low for the counter. The stock had hit a 52-week high of Rs 1,748.20 on 2 December 2015. The stock had underperformed the market over the past 30 days till 22 November 2016, sliding 22.08% compared with the 7.87% decline in the Sensex. The scrip also underperformed the market in past one quarter, falling 14.13% as against Sensexs 7.48% decline.

The mid-cap company has equity capital of Rs 55.27 crore. Face value per share is Rs 5.

Wockhardt said that currently, there is no business being conducted from C P Pharmaceuticals to the US Market. C P Pharmaceuticals has already initiated required steps to address the concerns raised by US Food and Drug Administration (USFDA) and will be responding to the agency within the prescribed time, Wockhardt said.

Wockhardts consolidated net profit fell 81.59% to Rs 17.02 crore on 10.05% decline in total income to Rs 1084.59 crore in Q2 September 2016 over Q2 September 2015.

Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.

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Board of Ushdev International discussed classification of its loan account as NPA by banks

Nov 23,2016

Ushdev International announced that the Board Meeting of the Company was held on 22 November 2016. The Board of Directors at the Board Meeting of the Company discussed that few Banks have declared the loan account of the Company as Non Performing Asset and India Ratings and Research Private has revised the rating of the Company. The Board discussed in length and the Company is working on a suitable solution.

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Board of Ushdev International discuss classification of its loan account as NPA by banks

Nov 23,2016

Ushdev International announced that the Board Meeting of the Company was held on 22 November 2016. The Board of Directors at the Board Meeting of the Company discussed that few Banks have declared the loan account of the Company as Non Performing Asset and India Ratings and Research Private has revised the rating of the Company. The Board discussed in length and the Company is working on a suitable solution.

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Intellect Design Arena gets assigned credit ratigns

Nov 23,2016

Intellect Design Arena announced that CRISIL, vide its letter dated 22 November 2016, has assigned credit rating of :

a) BBB+/ Stable rating for Long Term Loans, and

b) CRISIL A2 for Short Term Loans.

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A2Z Infra Engineering jumps as subsidiary to settle various debts

Nov 23,2016

Meanwhile, the BSE Sensex was down 48.70 points, or 0.19%, to 25,912.08.

On BSE, so far 5.83 lakh shares were traded in the counter, compared with average daily volume of 2.50 lakh shares in the past one quarter. The stock hit a high of Rs 41.40 and a low of Rs 38.60 so far during the day. The stock hit a 52-week high of Rs 51.65 on 1 November 2016. The stock hit a 52-week low of Rs 16.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 22 November 2016, falling 2.82% compared with the 7.87% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 2.82% as against Sensexs 7.48% decline.

The small-cap company has equity capital of Rs 129.62 crore. Face value per share is Rs 10.

A2Z Infra Engineering informed that its subsidiary, A2Z Green Waste Management (A2Z Green), has on 19 November 2016, agreed to a framework with one of its lenders for a settlement of its various debt obligation aggregating to Rs 416.18 crore.

The settlement may include the transfer of two projects of A2Z Green namely: a 500 tonne per day (TPD) of processing and disposal unit for the purposes of municipal solid waste management at Indore city; and a 1500 TPD of P&D unit, collection & transportation facility of municipal solid waste along with 15 megawatts (MW) power plant, located in Kanpur city.

The settlement would be subject to execution of definitive agreement(s) and further subject to various requisite approval(s) of its stake holders including shareholders and lenders as may be required.

Shares of A2Z Infra Engineering surged 12.80% to Rs 37.90 yesterday, 22 November 2016, after the company said that a contract has been awarded to the company by Chhattisgarh State Power Transmission Company for construction of 132 kilovolt S/S Bijapur and associated EHV Line on turnkey basis. The aggregate value of the contract is Rs 41.33 crore. The announcement was made during market hours yesterday, 22 November 2016.

The stock has risen 19.35% in two trading sessions from its close of Rs 33.60 on Monday, 21 November 2016.

A2Z Infra Engineering reported a net loss of Rs 18.75 crore in Q1 June 2016, lower than net loss of Rs 34.21 crore in Q1 June 2015. Net sales surged 148.5% to Rs 202.70 crore in Q1 June 2016 over Q1 June 2015.

A2Z Infra Engineering (formerly known as A2Z Maintenance & Engineering Services) is a fast growing, fully integrated electrical business group (EBG) in India catering to the needs of domestic and international power sector clients in building distribution and transmission infrastructure.

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Yes Bank commits to NHAIs Adopt Green Highway program

Nov 23,2016

Yes Bank has become the first private sector player into a Corporate Social Responsibility commitment with the National Highways Authority under its Adopt Green Highway program. Through this partnership, Yes Bank is committed to developing green corridors along Mumbai-Nashik-Pimpalgaon Highway.

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Board of Prestige Estates Projects to consider September quarter and half year results

Nov 23,2016

Prestige Estates Projects announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 07 December 2016, inter alia, to consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter and half year ended 30 September 2016.